(UPDATE) THE escalation of global conflicts has pushed up local fuel prices for the fifth straight week.
The per-liter price of gasoline went up by P1, diesel by 80 centavos, and kerosene by P1.
The intensified attacks by Ukraine on Russia’s ports and refineries and mounting tension in the Middle East have raised world oil prices.
Other factors include strong diesel demand in the Northern Hemisphere, and the gasoline demand indicators weakening because of operational issues in major refineries.
Since the start of the year, the cost of gasoline has gone up by P14.90 per liter, diesel by P16.05 per liter, and kerosene by P4.55 per liter.
